Power Markets: Transferring Systematic Risk to Lottery Players

Power Markets: Transferring Systematic Risk to Lottery Players

This article shows how a state could design a lottery that absorbs some of the financial market's systematic risk. Under this lottery, prizes would be positively correlated with the stock market. This lottery could be a profitable complement to existing state lotteries.

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Bibliographische Detailangaben
Veröffentlicht in:Public budgeting & finance 2003-06, Vol.23 (2), p.118-133
Hauptverfasser: Miller, James D., Morey, Matthew R.
Format: Artikel
Sprache:eng
Schlagworte:
Correlation analysis
Lotteries
Mathematical models
Popularity
Professional football
Profits
Risk
Securities markets
Statistical data
Studies
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Beschreibung
Zusammenfassung:This article shows how a state could design a lottery that absorbs some of the financial market's systematic risk. Under this lottery, prizes would be positively correlated with the stock market. This lottery could be a profitable complement to existing state lotteries.
ISSN:0275-1100
1540-5850
DOI:10.1111/1540-5850.2302008